Callon Petroleum Company (NYSE:CPE) price closed higher on Monday, September 13, jumping 7.02% above its previous close.
A look at the daily price movement shows that the last close reads $33.06, with intraday deals fluctuated between $33.8267 and $35.838. The company’s 5Y monthly beta was ticking 3.49. Taking into account the 52-week price action we note that the stock hit a 52-week high of $60.51 and 52-week low of $4.50. The stock added 10.91% on its value in the past month.
Callon Petroleum Company, which has a market valuation of $1.66 billion, is expected to release its quarterly earnings report Nov 01, 2021 – Nov 05, 2021. Analysts tracking CPE have forecast the quarterly EPS to grow by 2.45 per share this quarter, while the same analysts predict the annual EPS to hit $7.84 for the year 2021 and up to $11.31 for 2022. In this case, analysts estimate an annual EPS growth of 174.10% for the year and 44.30% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $418.45 million, with the likely lows of $371 million and highs of $495.7 million. The average estimate suggests sales growth for the quarter will likely rise by 44.30% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $1.58 billion for the company’s annual revenue in 2021. Per this projection, the revenue is forecast to grow 53.10% above that which the company brought in 2021.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with 1 upward and no downward reviews. On the technical perspective front, indicators give CPE a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as Hold.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 14 analysts have assigned CPE a recommendation rating as follows: 10 rate it as a Hold; 2 advise Buy while 1 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Callon Petroleum Company (CPE) stock as Underweight, with 1 recommending Sell. In general, analysts have rated the stock Hold, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that CPE’s price is at present 12.28% off the SMA20 and -7.37% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 54.64, with weekly volatility standing at 6.44%. The indicator jumps to 6.08% when calculated based on the past 30 days. Callon Petroleum Company (NYSE:CPE)’s beta value is holding at 3.50, while the average true range (ATR) indicator is currently reading 2.19. Considering analysts have assigned the stock a price target range of $37.00-$75.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $49.71. Based on this estimate, we see that current price is roughly -4.58% off the estimated low and -111.98% off the forecast high. Investors will no doubt be excited to see the share price fall to $49.00, which is the median consensus price, and at that level CPE would be -38.5% from current price.
Turning out attention to how the Callon Petroleum Company stock has performed in comparison to its peers in the industry, here’s what we find: CPE’s stock is 7.02% on the day and 601.98% in the past 12 months. Another comparison is with Enterprise Products Partners L.P. (EPD) whose stock price was up 0.91% in the last trading session, and has flourished 30.66% over the past year. Also, Plains All American Pipeline L.P. (PAA) showed up trend of 2.69% while its price kept floating at 50.45% over the past year. Elsewhere in the market, the S&P 500 Index has rallied 0.23% in last trading session, with the Dow Jones Industrial also saw a positive session on the day with 0.76%.
An analysis of the Callon Petroleum Company (NYSE:CPE) stock in terms of its daily trading volume indicates that the 3-month average is 1.71 million.
Current records show that the company has 46.27M in outstanding shares. The insiders’ percentage holdings are 1.80% of outstanding shares while the percentage share held by institutions stands at 79.00%. But the 168.84% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.